Important points
Tether’s latest certification shows its profits for the first half of 2024 are $5.2 billion, and its holdings in U.S. Treasuries are at an all-time high of $97.6. Tether is one of the world’s largest holders of US debt. Tether has issued over $8 billion worth of stablecoins. In the second quarter.
Tether Holdings, the largest stablecoin issuer by market capitalization, on Wednesday reported a $5.2 billion profit in the first half of this year and a large stash of U.S. Treasuries in its latest certified report.
Tether issued over $8.3 billion in stablecoin USDt (USDTUSD) in the second quarter. This is a USD-backed stablecoin, so it must be backed by cash or equivalent reserves.
Tether reported a record $97.6 billion in investments in U.S. Treasuries through direct and indirect exposures. This would make it one of the top countries in terms of U.S. debt holdings.
Tether ranked third in purchases of three-month government bonds in the first half of this year, behind the United Kingdom and the Cayman Islands, and “could be number one next year,” he said.
The report shows that Tether holds $4.734 billion worth of Bitcoin (BTCUSD) and $5.3 billion in excess reserves.
